Markets Right Now: US stock indexes edge mostly higher

AP News
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Posted: Jul 13, 2016 4:18 PM

NEW YORK (AP) — The latest on developments in global financial markets (all times local):

4:00 p.m.

Stocks ended mostly higher on Wall Street after a three-day rally lost momentum.

The Dow Jones industrials and the Standard & Poor's 500 index remained at record highs Wednesday.

In a sign investors remain cautious, utility companies rose more than the rest of the market.

Energy companies fell along with the price of oil. Hess slumped 3.5 percent and Devon Energy lost 2.5 percent.

The Dow rose 24 points, or 0.1 percent, to 18,372.

The S&P 500 edged up less than a point to 2,152. The Nasdaq composite lost 17 points, or 0.3 percent, at 5,005.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.47 percent from 1.51 percent.

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11:45 a.m.

Stocks are edging lower in midday trading after setting records the last few days.

Energy companies fell with the price of oil Wednesday, while safe-play stocks like utilities and phone companies made gains.

Hess slumped 4 percent and Devon Energy lost 3.7 percent.

Arts and crafts chain Michaels fell 5 percent on a disappointing forecast.

The Dow Jones industrial average fell 22 points, or 0.1 percent, to 18,325. The Standard & Poor's 500 declined 4 points, or 0.2 percent, to 2,147. The Nasdaq composite was down 13 points, or 0.3 percent, at 5,009.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.47 percent from 1.51 percent.

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9:35 a.m.

Stocks are little changed in early trading after setting records the last few days.

Utility companies are making the largest gains Wednesday while energy companies fall with the price of oil.

Generic drug company Teva Pharmaceutical Industries rose 6 percent after it gave strong projections for the second quarter and gets closer to completing a $40.5 billion deal for Allergan's generic drug business.

Arts and crafts chain Michaels fe3ll 5 percent on a disappointing forecast.

The Dow Jones industrial average added 9 points, or 0.1 percent, to 18,356. The Standard & Poor's 500 was little changed at 2,152. The Nasdaq composite also held steady at 5,023.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.47 percent from 1.51 percent.